Q2 Holdings, Inc. (NYSE:QTWO) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. raised its holdings in Q2 Holdings, Inc. (NYSE:QTWO) by 617.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 38,340 shares of the technology company’s stock after acquiring an additional 32,993 shares during the period. Edgestream Partners L.P. owned 0.06% of Q2 worth $2,313,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Hood River Capital Management LLC acquired a new position in Q2 in the first quarter valued at $62,765,000. American Century Companies Inc. grew its holdings in Q2 by 5,990.6% in the 2nd quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock valued at $73,008,000 after buying an additional 1,190,274 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Q2 by 1,910.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock valued at $37,832,000 after acquiring an additional 683,957 shares during the last quarter. Norges Bank purchased a new position in shares of Q2 during the 4th quarter worth about $20,470,000. Finally, Wasatch Advisors LP boosted its position in shares of Q2 by 10.8% in the first quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock worth $214,386,000 after acquiring an additional 398,871 shares during the last quarter.

Insider Buying and Selling at Q2

In related news, EVP Jonathan Price sold 11,000 shares of Q2 stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $60.00, for a total value of $660,000.00. Following the completion of the sale, the executive vice president now owns 226,079 shares in the company, valued at $13,564,740. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Q2 news, EVP Jonathan Price sold 11,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $60.00, for a total transaction of $660,000.00. Following the completion of the transaction, the executive vice president now directly owns 226,079 shares of the company’s stock, valued at approximately $13,564,740. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Michael S. Kerr sold 517 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total transaction of $36,634.62. Following the completion of the sale, the general counsel now owns 61,130 shares in the company, valued at approximately $4,331,671.80. The disclosure for this sale can be found here. Insiders have sold a total of 54,916 shares of company stock valued at $3,896,644 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Q2 Price Performance

QTWO opened at $76.04 on Thursday. Q2 Holdings, Inc. has a twelve month low of $28.91 and a twelve month high of $77.70. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of -56.33 and a beta of 1.58. The company has a fifty day simple moving average of $70.56 and a 200 day simple moving average of $61.21.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, July 31st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The business had revenue of $172.89 million for the quarter, compared to analysts’ expectations of $170.67 million. Q2 had a negative return on equity of 3.95% and a negative net margin of 10.40%. Equities research analysts expect that Q2 Holdings, Inc. will post -0.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on QTWO. Royal Bank of Canada increased their price target on shares of Q2 from $60.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Truist Financial reiterated a “buy” rating and issued a $78.00 target price (up previously from $68.00) on shares of Q2 in a report on Thursday, August 1st. DA Davidson lowered Q2 from a “buy” rating to a “neutral” rating and upped their price target for the stock from $65.00 to $76.00 in a research note on Wednesday, July 24th. Needham & Company LLC raised their price objective on Q2 from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, BTIG Research boosted their target price on Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.38.

Q2 Company Profile

Q2 Holdings, Inc provides cloud-based digital solutions to regional and community financial institutions in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform supports its financial institution customers in their delivery of unified digital banking services across digital channels.